A growing interest in animation and creative work tapping into child-like wonder prompted the development of Artsphoria: Animation & Imagination World.
Like others who find this in-motion and lively way of communicating a fascinating format with endless possibilities, we launched Artsphoria’s Animated News Desk:
Global Animation Industry: Growing Market and Demand
According to MarketWatch, the global animation industry was valued at $259 billion in 2018 and is projected to reach $270 billion by 2020.
The report also indicates that the demand for animation continues to grow for several reasons:
- Increase in cable and satellite TV hours
- Low-cost Internet access
- Popularity of mobile devices
- Appeal of streaming videos
In addition, the interest in animation and related content for augmented and virtual reality is exploding. With technology making animation widely accessible, this industry is one of the most rapidly expanding ones across the world.
Statistics on Animation Market Size
Here are some of the current numbers related to the animation market:
- Most segments in the animation industry are expanding at the rate of 2% year over year.
- Expenditures on special effects as a percentage of production cost is about 20% to 25%.
- With an increased interest in streaming video, the market size for animation content was $2.9 billion in 2018 and growing at an annual rate of 8%.
Animation Trends and Growth Factors
Here are some of the animation trends and growth factors contributing to high-definition visual experiences.
- Studios are including more animation in films to satisfying moviegoers’ demand for high-quality productions with entertaining visual effects and realistic animation.
- Consumers use ultra-high-definition TVs, tablets and smartphones to head mounted devices to access animated content.
- Streaming video is the fastest-growing segment distribution channel for animation, with double-digit growth predicted to continue for the next few years.
- Cloud computing is becoming a more cost-effective and time-efficient method for producing animation.
Your Comments on the Appeal of Animation
Why do you find animation appealing? What are some of the advantages in this form of storytelling, and why?
Post your comments, and check out the latest news on Artsphoria Animation & Imagination World now!